Rather than face the prospect of a four- or five-figure vet bill, consumers can choose to pay a relatively small monthly premium and enjoy the benefits of that coverage should it ever be needed for their pet. (Photo: Brian Jackson/AdobeStock)
There is a nascent demographic shift afoot in insurance that has the power to transform the way carriers engage and build more personalized relationships with their customers. To see it in action, one needs to look no further than the recent trends in insurance shopping for valuables protection, umbrella policies and pet insurance.
Perhaps not surprisingly, each of these specialty policies appeals to a slightly different demographic group. However, the ability to understand the specific drivers behind those shopping behaviors and the precise moments on the customer journey when they trigger an intent to purchase can be the key to building long-term customer lifetime value.
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